SHA:603768 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-70.49	68.16	131.63	96.45	59.41	75.17
Depreciation & Amortization	265.51	265.51	236.58	200.59	181.89	185.72
Other Amortization	31.63	31.63	35.79	36.12	34.74	25.44
Loss (Gain) From Sale of Assets	5.44	5.44	-0.27	0.09	0.53	-0.56
Asset Writedown & Restructuring Costs	1.84	1.84	2.8	17.18	-0.26	3.73
Loss (Gain) From Sale of Investments	3.69	3.69	-16.92	1.8	1.45	-8.27
Provision & Write-off of Bad Debts	43.06	43.06	9.01	9.82	10.54	46.58
Other Operating Activities	57.87	151.54	81.18	84.2	85.43	62.97
Change in Accounts Receivable	-222.76	-222.76	-325.4	-272.63	-111.06	-119.89
Change in Inventory	-173.84	-173.84	-4.25	-93.06	-8.06	-104.94
Change in Accounts Payable	-150.84	-150.84	-187.08	-200.29	-266.02	-158.92
Operating Cash Flow	-235.49	-3.17	-28.6	-122.38	-21.34	-0.69
Capital Expenditures	-125.37	-261.66	-371.48	-197.24	-286.37	-49.07
Sale of Property, Plant & Equipment	4.94	1.72	0.13	0.16	0.6	0.08
Investment in Securities	-0.4	-	-	-	-	335
Other Investing Activities	0.95	0.81	0.87	1.61	-	10.75
Investing Cash Flow	-119.88	-259.13	-370.48	-195.46	-285.77	296.76
Long-Term Debt Issued	-	1,495	1,465	1,244	1,031	691.95
Total Debt Issued	1,630	1,495	1,465	1,244	1,031	691.95
Long-Term Debt Repaid	-	-1,215	-943.23	-942.11	-888.82	-739
Total Debt Repaid	-1,257	-1,215	-943.23	-942.11	-888.82	-739
Net Debt Issued (Repaid)	373.07	280.32	521.28	301.47	142.27	-47.05
Issuance of Common Stock	-	393	-	-	-	-
Common Dividends Paid	-88.02	-84.59	-75.18	-60.35	-65.74	-50.38
Other Financing Activities	-34.84	-2.34	-4	-1.42	-1.31	-1.16
Financing Cash Flow	250.21	586.39	442.09	239.7	75.21	-98.58
Net Cash Flow	-105.15	324.09	43.02	-78.14	-231.89	197.48
Free Cash Flow	-360.85	-264.83	-400.07	-319.61	-307.7	-49.76
Free Cash Flow Margin	-10.27%	-7.77%	-12.31%	-10.10%	-10.23%	-2.17%
Free Cash Flow Per Share	-1.49	-1.17	-1.98	-1.56	-1.50	-0.24
Cash Income Tax Paid	122.79	112.42	93.24	19.72	93.25	83.43
Levered Free Cash Flow	93.75	163.25	24.52	70.41	-97.83	-33.3
Unlevered Free Cash Flow	130.83	200.86	57.76	101.61	-70.57	-6.91
Change in Working Capital	-574.03	-574.03	-508.4	-568.63	-395.06	-391.47

Source: S&P Global Market Intelligence. Standard template. Financial Sources.